Unemployment insurance is always one of the big questions of employees. We are here to share with you about “How long after resignation will employee receive one-time social insurance benefits?”

For the time being, many workers are aiming to receive a monthly pension, but there is also a large part of workers who choose to enjoy one-time social insurance after quitting their jobs. To answer this question, the employee must first be in the case of receiving one-time social insurance as prescribed by law.

Circumstances of receiving one-time social insurance updated to 2022 include:

Circumstances of reaching retirement age but the number of years of social insurance payment is under 20 years and do not participate in the voluntary social insurance.

Circumstances of going abroad to settle.

In case the employees who take leave due to fatal disease such as cancer, polio, cirrhosis of the liver, weakened immune system into severe disease stage.

In case the employee has participated in compulsory social insurance after one year of resignation and the period of social insurance payment is less than twenty year.

In short, how long do employees leave their job to enjoy a lump-sum social insurance?

Firstly, they have participated in compulsory insurance for less than twenty years.

Second, they do not continue to participate in social insurance payment.

Third, they have resigned after one year from the time of termination of social insurance payment.

Once we understand the case of receiving one-time social insurance, we will find out how the one-time social insurance payment is calculated.

The amount of one-time social insurance benefits depends on two factors:

First, it is the number of years participating in social insurance

And second, it's the average monthly salary.

The formula will be as follow:

The one-time social insurance allowance is equal to 1.5 times of the average monthly salary on which social insurance premiums are based, multiplied by the number of years of social insurance payment before the year 2014, plus 2.0 the average monthly salary on which social insurance premiums are based multiplied by the number of years of social insurance payment from the year 2014 onwards.  

Additional note: In case the employee has paid Social Insurance for less than one year, the lump-sum social insurance benefit is calculated as 22% of the monthly salary for which social insurance has been paid, the maximum level is equal to two months the average monthly salary on which social insurance premiums are based.

So according to the above formula, when we want to calculate the one-time social insurance premium, we need to clearly determine the time we have paid social insurance premiums and take the year 2014 as the landmark. Currently, you can look up your social insurance payment time on the Vietnam social insurance portal or through the VSSID application easily. You can also update your one-time social insurance participation data into the social insurance calculation system through online applications to know the amount you receive.

Hopefully, the above sharing can help you know about the conditions and how to calculate the one-time social insurance benefit. See you in the next topics.